Even though wages in city areas are usually higher than rural locations, the affordability of city living has worsened, with house prices in cities costing around seven and a half times wages, according to Halifax.
Whilst house prices have improved in other cities, such as Portsmouth, many cities have gone up in the rankings for most expensive city.
Russell Galley, managing director, Halifax, said: ‘Affordability is significantly better in the north and there are now just two cities – Plymouth and Portsmouth – with better than average affordability in the south.’
We've put together a list of the 10 least affordable cities in the UK for a first time buyer.
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1. 1. Winchester, South East
Winchester has replaced Oxford as the least affordable city, with a house price to earnings ratio of 14:0. The average house price in the area is £630,432, with average earnings being £45,059 a year.
Photo: Keith Woodland
2. 2. Oxford, South East
The usually least affordable city has dropped in the rankings this year. The house price to earnings ratio sits at 12:4, with an average home costing £486,928 and the average yearly wage sitting at £39,220.
3. 3. Truro, South West
Truro in Cornwall is joint third on the list. The house price to earnings ratio in Truro is 12:1; with the average house price being £356,788 and the average earnings in the area being £29,558.
4. 3. Bath, South West.
Bath is also in third place. The price to earnings ratio in Bath is 12:1 and the average price of a home is £476,470. The average wage in the city is £39,508.